Cabot Oil & Gas Corp. expects production to grow 20-25 percent in 2019 with increased natural gas demand and higher prices, according to E&P. If the company’s predictions are on par, next’s year’s growth would be significant compared to the 7-8 percent growth for 2018.
During the third quarter of this year, Cabot’s average production rose 10 percent to 2.03 billion cubic feet (Bcf). Simultaneously, the sales price of natural gas, excluding hedges, rose nearly 17 percent to $2.36 per thousand cubic feet.
As a whole, Marcellus shale producers have been able to benefit from higher gas prices in the Midwest and Gulf Coast, thanks to more pipelines coming into operation in the shale region.